Reference no: EM132771331

Below is a list of accounts and their balances (in alphabetical order) as of the year end, December 31, 2018, for Blue Door Corporation:

Accounts Receivable $ 265,000
Accumulated Depreciation - Equipment $ 783,500
Advertising Expense $ 55,000
Common Shares $ 250,000
Cost of Goods Sold $ 1,172,000
Depreciation Expense $ 125,000
Dividends Declared $ 150,000
Equipment $ 1,450,000
Freight Out $ 25,000
Income Tax Expense $ 70,000
Insurance Expense $ 23,000
Interest Expense $ 62,000
Interest Revenue $ 30,000
Inventory $ 97,000
Prepaid Expenses $ 31,000
Rent Revenue $ 24,000
Retained Earnings $ 535,000
Salaries Expense $ 705,000
Sales $ 2,650,000
Sales Discounts $ 19,500
Sales Returns and Allowances $ 41,000
Unearned Revenue $ 18,000

Problem 1: Provide a single-step Income Statement in good form for Blue Door's year end

Problem 2: provide a multi-step Income Statement in good form for Blue Door's year end